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276. Innovating to help the community

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Coop Name: Cooperativa de Seguros Múltiples de Puerto Rico N° of Employees: 396
City: San Juan N° of Members: 167
Country: Puerto Rico Year of formation: 1963
Website: http://www.segurosmultiples.com
About this coop:

Cooperative de Seguros Múltiples is one of the main property and contingency insurance providers in Puerto Rico. It has more than 150 authorized exclusive represenatatives and 11 branches across the entire island. The network of services offers 24 hour a day access via telephone and internet.

Since its incorporation in 1963, Cooperativa de Seguros Múltiples has been recognized for its commitment to strengthening the Puerto Rican cooperative movement and for its continuous contribution to the country’s social development. Its success is due in part to developing products which meet the needs of the market, and it is now extending its work into the area of microinsurance and mobile applications.

One of its most recent initiatives is a microinsurance product aimed at members of Puerto Rico housing cooperatives, who now have the opportunity to obtain insurance policies in line with their needs at affordable prices. The cover includes protection for personal property including personal belongings such as clothing, furniture and electronic equipment. Public liability against third party claims for injury or death, damage to the property of others, and personal injury is included, as is home and roadside breakdown assistance services.

This microinsurance initiative, which builds on the established alliance between Seguros Múltiples and the housing cooperatives, has been warmly welcomed by the residents. Seguros Múltiples says that it is strengthening its relationship with the cooperative movement and contributing to the development of a solidarity economy in the country.

Always innovating, Cooperativa de Seguros Múltiples is also launching a new mobile application called Text U Later, designed to raise awareness of the risk of mobile phone usage while driving and prevent accidents. Text U Later sends an automatic text message when a call or message is received notifying the caller that the person will call them back when they become available.

“As a cooperative enterprise we have the responsibility to promote safe behaviours among our drivers. And what better way to do it than to offer them a tool that will help them channel their calls and messages while they’re driving,” says vice president of the Board of Directors of Seguros Múltiples, Juan González Feliciano.

Thank you to the International Cooperative and Mutual Insurance Federation (ICMIF) for contributing to this story.

Author of this story
Rizick Rosario Peña
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